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Publicly listed Trustees Australia secure a new space within the premier 200 Creek St building

Publicly listed Trustees Australia has secured new office space on a sublease within Spring Hill’s Premier office building, 200 Creek St.

Subleases are rarely simple as both parties are often looking for the quickest turn-around possible, something that was particularly tricky in this situation. The head tenant, Citadel Group, needed to secure a subtenant in parallel to agreeing to secure a new premises of their own to house their rapidly expanding team. On the other hand, Trustees Australia, coming to the end of their existing sublease term at 140 Ann St in the CBD, were needing to act quickly to relocate their given. With capital raising projects underway and new business lines growing, flexibility over lease duration was imperative to their requirement.

When Citadel landed on a move to a full floor at 348 Edward St they had to deal with some ongoing uncertainty about relocation dates. This move had been forced by the acquisition of a complementary business and meant that Citadel would be carrying a significant lease tail over their 200 Creek St lease which needed to be dealt with. Caden Office Leasing were appointed by Citadel to procure a subtenant for this space.

Having been located in the Transit Corridor (at 140 Ann St) for the last few years Trustees Australia were familiar with the location and wanted to stay as close to Central Station as possible. 200 Creek St ticked this box, in addition to also providing good parking and general accessibility for staff and clients. The space had a high quality existing fit out that was only a couple years old allowing Trustees to move into the space with minimal fuss. A remaining head lease term of fewer than 3 years also allowed Trustees a short-term accommodation option that would not come with a cost premium.

Caden Office Leasing Senior Executive Lewis Harper introduced Trustees to the space whilst Caden Director David Prosser acted for Citadel (head tenant).

For further details about Citadel’s new lease see here and to inquire on other Brisbane CBD opportunities or for further details on the Trustees Australia sublease, please contact Lewis on 0437 187 659.